RE: Nishika Cameras

[P3D Gregory J. Wageman <gjw@xxxxxxxxxx>]

John Roberts writes:

 - Intrinsic value is directly expressable in US dollars (or Swiss francs,
     or whatever). [This implies that all intelligent and well-informed
     people should essentially agree with one another on the picture-taking
     merits of a particular camera, and on the dollar value of such merits -
     I consider this unlikely.]

I agree with your comment-- I never meant to imply that this intrinsic
value can be ascertained with any degree of certainty.

The concept I'm exploring is that even though the market value of a useful
item may change due to market forces, which can be entirely non-rational,
since the item itself has not changed and still performs its designed
function, there is some constant value (base value, perhaps?) which remains
unaltered.  You've heard people express this when they say "People just don't
appreciate the value of that" or "Those are greatly undervalued", or "What
a rip-off!" :-)  The idea being the "true worth" is different from the
selling price, which may or may not be the "market value".

>Greg also mentioned that appraisers determine the VALUE of a thing, without
>specifying whether this is market value or intrinsic value.

Market value, unquestionably, since the guidelines they use are the
recent selling prices of similar or identical items, with allowances
made for relative condition.

        -Greg W.


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